Lockheed Martin Co. (NYSE:LMT) Position Lowered by StrongBox Wealth LLC

StrongBox Wealth LLC decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 853 shares of the aerospace company’s stock after selling 53 shares during the quarter. StrongBox Wealth LLC’s holdings in Lockheed Martin were worth $311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC acquired a new stake in Lockheed Martin during the first quarter worth about $25,000. Key Financial Inc acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $26,000. Benjamin Edwards Inc. increased its stake in shares of Lockheed Martin by 89.7% in the first quarter. Benjamin Edwards Inc. now owns 74 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. MBE Wealth Management LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $29,000. Finally, Ruggie Capital Group acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

NYSE:LMT traded down $2.75 during trading hours on Friday, reaching $378.97. 1,101,905 shares of the company’s stock were exchanged, compared to its average volume of 1,406,967. The company has a market capitalization of $106.27 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. Lockheed Martin Co. has a 12 month low of $266.11 and a 12 month high of $442.53. The company has a quick ratio of 1.08, a current ratio of 1.31 and a debt-to-equity ratio of 3.22. The business’s 50-day simple moving average is $369.01 and its two-hundred day simple moving average is $382.20.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.72 by $0.07. The firm had revenue of $16.22 billion during the quarter, compared to analysts’ expectations of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $5.00 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 24.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be paid a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, August 31st. Lockheed Martin’s dividend payout ratio is 43.74%.

Several brokerages have commented on LMT. UBS Group dropped their price target on shares of Lockheed Martin from $482.00 to $475.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $350.00 to $395.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Seaport Global Securities assumed coverage on shares of Lockheed Martin in a research note on Tuesday, May 19th. They set a “buy” rating and a $435.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Lockheed Martin from $385.00 to $407.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 14th. Finally, Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $410.00 to $404.00 in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $442.67.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

See Also: Technical Analysis

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.